Even though one of the largest crypto exchanges, FTX, collapsed and filed for bankruptcy, some market participants aren’t worried about whether the meltdown will alter institutional interest in crypto.
“I feel like once you get the momentum for an institution up and running, it’s hard to get them to turn their head and pivot,” Grace Berkery, director of startup engagement at Mastercard, said at the Benzinga’s Future of Crypto event. “So if they’re going to enter, they’re going to stay in the space.”
During the “Status of Venture Funding in Crypto and Web3” panel, Berkery said that she doesn’t think institutions are going to shy away from the industry but instead will focus on becoming more careful about their diligence and who they partner with, as well as working with companies with proven track records and existing customers. “The focus is going to be less on buzzwords and hype in the space and more on what is the tangible value you’re adding as a company.”
Mastercard is no stranger to the crypto industry and has been supporting it for …
